The significant surge in Circle’s first-day trading could prompt institutional investors to set higher IPO prices for upcoming listings. Imminent IPOs include Omada Health, which is pricing on Thursday, and Klarna, a fintech that’s set to list next week.

Digital investment firm Arca has sold its entire stake in Circle after publicly criticizing the stablecoin issuer’s initial public offering (IPO) process.

What exactly does Circle do, and why did it decide to move its headquarters from downtown Boston to lower Manhattan late last year? Here are six things to understand about the company, which manages a "stablecoin" called USDC.

Circle (CRCL) debuted to wild upside action on the New York Stock Exchange on Thursday, its shares more than tripling from the IPO price of $31. The event was the culmination of a long journey for the USDC stablecoin issuer, which had been pursuing an IPO for several years.

Gemini, the crypto company controlled by the Winklevoss twins, filed its IPO plans with securities regulators after shares of Circle more than doubled during its first day of trading

The surge in cryptocurrency IPOs signals a turning point for the industry, reflecting growing confidence among digital asset firms to attract mainstream investors.

Just look at the robust demand for the initial public offering of Circle Internet Group, the leader in the world of stablecoins. Circle, which plans to list 34 million shares on the New York Stock Exchange Thursday under the ticker symbol CRCL,